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Record year for commercial property market in Northern Ireland – 4 November 2014
Northern Ireland has experienced a record year in the commercial property market, according to CBRE Ireland’s latest bi-monthly analysis.
The performance has been boosted by an increase in transaction volumes in the investment sector and is set to benefit further from a number of assets that are currently being marketed getting signed by year-end.
More than £411m has been invested directly into the commercial property market in Northern Ireland during the first nine months of 2014, with more than 90 per cent comprising retail investments.
Brian Lavery, managing director at CBRE Belfast, said: “2014 has been a record year for the Northern Irish commercial property market with a resurgence of activity across almost every sector of the market.
“The sale of NAMA’s entire holding in Northern Ireland, by way of a loan sale earlier this year, helped stimulate the increase in the volume of asset sales throughout 2014, but we’ve also benefited from an escalation in job announcements which has boosted office leasing activity as well as rental growth.”